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urging the white house to act unilaterally on the debt ceiling as well. twenty-one democrats led by congressman peter welch said in a letter that they fully support any use of presidential authority, including interpreting the 14th amendment to support presidential action to prevent the government from going into default. that amendment contained a section stating that the validity of the public and the united states shall not be questioned. at best interpret those words to be authorization for the president to act on his own is to say the least eight tortured reasoning. and as a matter of law, the federal borrowing limit is set by congressional approval. the white house, not as adventurous as the democrats in congress to send that letter. the white house unwilling to take on more than one constitutional amendment and challenge at a time. white house spokesman jay carney today. >> the proposition on the 14th amendment has not changed. let's be clear. congress has the responsibility and the sole authority to raise the debt ceiling. congress must do its job. lou: the administration
. regarding raising the nation's debt ceiling and some house democrats say he doesn't have to negotiate. because they claim the constitution does give him the power to raise the limit on his own. specifically, the 14th amendment which reads in part, look at this. the validity of the public debt of the united states shall not be quedz. of course, there is more to this. mike emanuel is at the white house. what's the reaction from there from republicans. >> republicans say there must be spending cuts and when we're considering raising the nation's credit card limit, the debt ceiling is the time to do it. the white house says it won't negotiate. >> this is about past spending, not future spending. it is about paying our bills. and congress has that responsibility. congress needs to fulfill it. >> remember, republicans had to accept a tax increase in the last crisis. the fiscal cliff. now they want to slash spending. >> we need significant spending cuts and real tax reform to address our long-term debt problem and pave the way for long-term growth and real growth in jobs in our country. >> i
the debt ceiling limitations and incur debt. the fact you've got nancy pelosi and other democrats saying this is the way we go with, we have to, showing this is a lot of threats and ignoring constitutional reality of separation of power. from e yek tiff branch. >> saying this is a post constitutional america. this is now, taking executive power to a degree that nobody is taking before without respect to precedent. let's go to the videotape and words of warner wolf, let's listen to your friend president obama on the issue of executive privilege and orders in 2007. >> i think that the issue of executive power and executive privilege is one that is subject to abuse. and... in an obama presidency what you will see will be a sufficient respect fr law and co-equal branches of government. i hope we don't find ourselves in a situation for things being subpoenaed for what everybody acknowledges is trouble information out there. >> sean: if the president can't get an appointment he wants, then, the senate is still in session and he makes a recess appointment nobody has done that before. >> that is
to raise the debt ceiling and only today did the white house spokesman jay carney seem to back off that unconstitutional idea, but with this group, who knows? obama is increasingly relying on executive orders to bypass congressional authority, now, this is what he refers to as the, we can't wait initiative or as i call it get the republicans the hell out of the way initiative. he's been using this for infrastructure projects and policies, and made several recess appointments while the senate was officially still in session. no president has attempted that power grab and halted deportation of illegal immigrants and adoptions of the dream act though he failed to pass it through congress and unilaterally changed welfare requirements without submitting them to congress for review. even the office said he should have consulted congress in that case. what you're witnessing is an out of control, arrogant, unconstitutional power grab. here to talk about the legality of all this have and discussion what options the president may be weighing, especially when it comes to the seconds amendment
democrat that i spoke with who worked closely with lew during the debt ceiling negotiations in 2011 said this, "he's the best. a total pro. he doesn't try to make policy, rather he simply tries to protect the president's priorities. no wonder the republicans hate him. they hate him for doing his job." >> stand by. we'll have more. we're waiting for the president of the united states to make the official announcement with jack lew. the next treasury secretary is confirmed by the united states senate. by the way, we'll hear later from the alabama senator, jeff sessions. he'll be joining me to talk about the president's decision to ask jack lew to be the next treasury secretary. senator sessions hates that idea. >>> we're waiting, as i said, for the president. stand by, much more of our special coverage right after this. >> he is that rare person in washington who has been here for years who has done some very hard things and brokered some serious bipartisan agreements and done it in a way that has earned the admiration of almost everybody he's worked with.  >>> president obama getting
the debt ceiling using the 14th amendment. what would be the impact be, karen, if the white house did that? >> at this point, it would be tricky, the white house has been consistent saying they don't believe they have the authority to do that. again, i think the central message around this debate where you see democrats and the president keep trying to come back to is, we're talking about paying bills that we've -- money we've already spent. we're not talking about the president's spending. we're talking about paying for things that congressas all right appropriated and said we're going to spend the money on these things. that's just good sound fiscal policy. so i think it's part of the reason they don't want to talk about the 14th amendment, frank list, let's not get sidetracked with coins and other gimmicks. let's actually sit down and do the work. that being said, i betcha we'll see a lot of those coins around here for the inauguration weekend. somebody is going to come up with that idea. >> and they don't cost a trillion dollars. one more idea out there, chip, speaker boehner has talke
and the democrats are fighting over the debt ceiling. liberals say, debt ceiling is a fiction, it's not even real, it may be the law, but it's antiquated, out of date. that's where we are now on the second amendment, where you hear people like andrew cuomo in his state of the state speech in new york last night. >> megyn: can i interrupt you on that, nothing you were going to go there, we cued up this sound and chris is going to make his point about this sound. listen to the governor of new york and we have bill clinton here, too, as well who you mentioned in power play. listen to them. >> i say to you forget the extremists, it's simple, no one hunts with an assault rifle. no one needs ten bullets to kill a deer. and too many innocent people have died already. end the madness now. i grew up in-- culture, but this is nuts. why does anybody need a 30-clip, a 30-round clip for a gun. why does anybody need one of those things that carries a hundred bullets. >> megyn: some bill clinton's was a little garbled, but why does anybody need one of those things that carries a hundred bullets. the guy in colo
. my peeling has been like -- you know, let's do a permanent fix on the debt ceiling because -- it is congress holding itself hostage on this. keeps coming back. >> the old -- blazing saddles. >> that's right. find something they can take, that -- maybe -- you know, even democrats can claim as a win also. let's look for a long-term fix my idea would be let's face chained cpi. it is absurd. the president supports this. in exchange for permanent lifting of the debt ceiling. >> i want to ask you this was something in the op-ed today -- my apologies for missing who wrote it. it was about the coin and said that's an absurd proposal but if the debt ceiling doesn't get raised temporarily, it is better off if the government issues ious essentially. >> yeah. it is essentially what we would be doing. i mean -- you know, you call it whatever you want. it is essentially the trillion dollar coin would be an accounting fix. it would be -- temporary transfer of money from treasury to the federal reserve. we would pay our bills on time until the debt ceiling gets raised. then coin would go b
. and paul krugman is writing if the debt ceiling impasse isn't avoided, quote, mint the darn coin. democratic congressman nadler solidly behind it. not to mention a petition on the white house website with signatures in support. speaking of the white house. >> would you totally rule it out? >> you can speculate about a lot of things. i would refer you to treasury for the specifics about this question. >> reporter: the punt's in the air, it's a high floater. the treasury department decides not to field it, declining comment. but why is this being discussed more seriously now? analysts say frustration and fatigue in washington. >> there's an increased search for ways out of this problem, especially by democrats, and i think that's how some of them hit on this idea about the coin. >> reporter: we've explained how it would work. the treasury can mint it and then just print on it, $1 trillion. the president can then order that coin to be deposited at the federal reserve. enough, enough already. the real buzz over all of this is about the possibilities, humorous or not, of who'd be on t
could reduce the debt ceiling and increase spending every time you reduce the debt ceiling. i don't know. but, yeah, it is kind of a bizarre scenario. but, you know, democrats have said that revenues are going to be on the table as part of their negotiating position. so it's not a given that if they try to do all of in the that all two trillion would come from spending cuts. some of that could come from additional revenues as well. >> how confident are you of if sequestration happens and it's 475.2, um, for fy-14 that congress would heed that amount? i mean, congress didn't stick with the budget control act cap, so are we going to a year later looking at adjustments because congress exceeded that cap? >> yeah. these budget deals historically don't tend to stick around unaltered for very long. so, yeah, i wouldn't read too much into the ten-year projections out of these things. even if sequestration goes into effect, even if they decide to let it take effect, in fy-14 this is going to be debated then, in fy-15, this'll be debated again. so the amounts could change. they could go up or dow
lines. in this administration talking about fiscal cliffs, debt ceiling and now $1 trillion coin. this calls for guys in white jackets to take us away. it's out of control. whose picture would you put on a coin like that? >> this is a democratic idea. >> come on, larry. it's a ridiculous idea. for once, i absolutely agree with you this is the most ridiculous idea i have ever heard. not just because we'd be the laughing stock of the world and at this point we're about the strongest economy in the world right now. to guy's point, whether or not it gets people's attention, i think people are paying attention to how broken washington is. but more importantly, what does that say to the american people? the people you elect to go to washington to do a job can't do their job. they're going to make new rules. within -- i think it erodes confidence in our government. it's such a ridiculous idea. >> the other thing, karen, i think you're absolutely right and the important point to recall, we got downgraded by s&p not because we didn't raise the debt ceiling, we did, it's because of the lac
-- raise the debt ceiling anymore. perhaps you could reduce the debt ceiling and increase spending every time you reduce it. i do not know. it is a bizarre scenario. the democrats have said that revenue will be on the table as part of their position. it is not a given that if they do this, all 2 trillion will come from spending cuts. some will come from additional revenue as well. >> is sequestration happens, if congress did not stick with the budget control act, [indiscernible] >> is budget deals do not tend to stick around for long and altered very long. i would not read too much into this. even if they decide to leave it alone this year. in fy-14, this will be debated again. the amounts could change. they could go up or down. >> do you see sequestration happening? by that then so you are describing and the inability of congress to do anything. >> i'm not sure if that is the most likely outcome yet. of sequestration is going up. the odds of a deal to change it has gone down. a delay is still a possibility. they might delay it again by a few months. at some point, delays run out and you
that the republican party will implode in the next few months, debt ceiling and all? >> guest: i think the parties going to sir but there may be minor -- on the debt ceiling. a lot of problem -- say we should push for many cuts as a part of the deal on the debt ceiling but the president himself has said he's not going to negotiate it also is going to put republicans in a tough position. if they want to push in the present won't play ball they will end up satisfying the activists and not getting a deal so they will have to craft a real strategy perhaps a better strategy than they had on the clip deal. >> host: texas, independent line, robert your next. >> caller: yeah, we are not seeing a republic president for another 11 or 12 years. obama has to finish out his term and hillary is going to take another eight years. rubio will help for the republicans but he is cuban and the latinos are not going to go for mexicans and latinos. you have to remember the cubans had kennedy and the russians and all that. the latinos will not follow you as they would a real latino. >> host: what was your first about sp
connell will somehow make him less likely to deal with democrats when it comes to the debt ceiling? >> first i would like to thank brent because all of this is great for sales of the book. it shows how you have a republican party that has a large faction, the dominant faction that has moved to the fringes of american politics and compromise is out of bounds for them. for mcconnell there's a real dilemma here that has two components to it. the first is he is up for reelection in 2014 in a state where he is no longer the king maker. he did everything he could to keep rand paul from winning nomination two years ago, and failed miserably. now he has hired paul's campaign manager, has his own campaign manager, but he has to worry a little bit about pressure from the right. and john boehner has pretty much taken himself out of the lead-dog role in negotiating with the administration and that makes it fall back on o'connell for the fiscal issues immigration, probably guns and a host of other issues where everything that mcconnell does to reach a deal -- look at that fiscal cliff
Search Results 0 to 22 of about 23 (some duplicates have been removed)